Consider what happened in Bangladesh (see the opening profile). To what extent do you think the efforts by Levi Strauss can resolve the kinds of problems that led to that disaster?
What other people and factors are involved? Who are the stakeholders, and how are they affected? Consider the process and what steps are necessary to make this good idea happen.
How do these types of incentives relate to the overall goal of sustainability for the company?
Efforts by Levi Strauss to Address Disasters like Bangladesh
The main aims of the following report are to identify the different elements of the management of the global business. The main aims of the report are to identify the different practices that are undertaken by the management of the organization to manage the stakeholders and establish a set of ethical standards for the management of a proper and effective workplace.
To avoid the kind of disaster that happened in Bangladesh. The mentioned company can start by tightening their environmental, labor and safety standards of their factories (Laudon, 2015). A corporate culture needs to be created where there are different kinds of ethical codes of conduct in place and different forms of basic human rights (Binder, 2016). With the creation of the different forms of reward programs the management of these companies ensures to create high forms of ethical standards. The creation of such kind of high ethical standards helps the organization as well as the employees to reap high benefits. Apart from this the management of the companies also looks up to the safety and security standards and poor conditions in the factory that helps them to avoid any forms of disaster in the workplace. The MNC’s like the one mentioned in this chapter often have a tendency to shift their different producing units to the developing countries and make the most of the lenient labor laws, lenient business regulations and many other similar such factors that helps in the4 cheap production and an increase in the business profitability. For the positive incentives to work the management of Levi Strauss, has a number of positive incentives to work, a clear understanding of the different works and the processes by which the works are done (Armstrong, 2015). The suppliers can also benefit mutually from the flow of the goods and services while moving through the supply chain. These kinds of suppliers tend to take the advantage of globalization and promote ethical and proper ways and environments for the workers.
The other people and factors that are involved in the following stakeholder process include the likes of the World Bank and the International Finance Corporation (Luthans, 2018). The stakeholders of the company includes the home and the hosting country which are comprised of the owners, the employees, the customers, the different unions of the company including the supervisors unions as well as the employee unions, the distributors of the jeans produced by the organization, strategic alliances, community, economy and the government (Carroll, 2014).
The stakeholders on the other hand include the likes of the general society. The general society in the terms of globalization includes global independence, interdependence, standard of living, global environment and ecology and being able to manage and use the resources and the assets of the company sustainability (Peng, 2016). The stakeholders will suffer from better access to capital and the increase in the revenue of the business. Apart from this the increase in the brand value of the goods, deduction in its prices, reduction in different forms of risk factors, a better form of the retention and customer satisfaction within the organization is also one of the most important elements of the business. It is important for the management of the company to implement the ideas of the stakeholders by having a thorough idea of the different forms of the rules and regulations of the business in the different forms of the host countries. The management should then ensure to take the necessary steps that are needed to implement the standard rules and regulations and manage the production units (Reiche, 2016).
The following types of incentives relate to the overall growth of the sustainability goals for a company and change in the ethical behaviors of the human and natural resources. The main aims of the management of the company are to make more and more money and have a better level of financial performance. The incentives provided by the ICF is seen as a great reward for the sustainability of the business as because it helps the management to stay motivated as a chance to earn profits from the business. The management motivates the employees and help them to stay focused to earn the different incentives.
The following report has been able to properly and effectively explain the goals of the different forms of the stakeholder management theories and the different forms of the sustainable management theories of the company. Apart from this the report has also been able to establish the different forms of stakeholders who will be involved in the following project to enhance the sustainability of the organization.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.
Binder, J. (2016). Global project management: communication, collaboration and management across borders. Routledge.
Carroll, A., & Buchholtz, A. (2014). Business and society: Ethics, sustainability, and stakeholder management. Nelson Education.
Laudon, K. C., & Laudon, J. P. (2015). Management Information Systems: Managing the Digital Firm Plus MyMISLab with Pearson eText--Access Card Package. Prentice Hall Press.
Luthans, F., & Doh, J. P. (2018). International management: Culture, strategy, and behavior. McGraw-Hill.
Peng, M. W. (2016). Global business. Cengage learning.
Reiche, B. S., Stahl, G. K., Mendenhall, M. E., & Oddou, G. R. (Eds.). (2016). Readings and cases in international human resource management. Taylor & Francis.
Tarek, K. M., & Mak, A. K. Y. (2017). Fashion CSR by global brands vs. social enterprises: a closer look after the Rana Plaza collapse in Bangladesh. Media Asia, 1-7.
Uddin, M., & Tangem, S. (2015). A Study on the Relationship between Working Environment and Labor Unrest in Ready-Made Garment (RMG) Industry of Bangladesh.
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